New World Pasta, a subsidiary of Spanish food company Ebro Foods, is set to acquire two brands from sales and marketing firm Strom Products.
Under the US$50m deal announced yesterday (21 December), New World Pasta will purchase No Yolks and Wacky Mac dry pasta brands and certain assets from Strom. The transaction is expected to close by 31 December.
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No Yolks dry pasta is a noodle-style product while Wacky Mac is a vegetable-based pasta. Net revenue for the two brands is expected to reach $37.5m in 2011.
“The acquisition of the No Yolks and Wacky Mac brands is consistent with our strategic plan to expand our leadership position within the branded North American pasta business” said Antonio Hernandez Callejas, chairman and CEO of Ebro.
“In addition, this business presents manufacturing, logistical and selling synergies which will result in the addition of two very profitable brands to New World Pasta’s portfolio,” he added.
New World Pasta also owns brands including Ronzoni, Creamette, Skinner, San Giorgio and Prince.
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By GlobalData“After 35 years of running Strom Products I felt it was time to choose a reputable and reliable company to direct our brands. It was our priority to enter into conversations with companies which are as concerned as we are about producing high-quality products that enable consumers to live a healthier lifestyle,” owner and chairman of Strom Products Robert Strom said.
